LCH Ltd Rulebook - General Regulations, Default Rules, and Procedures
Summary
LCH Limited published updates to its rulebook components, including General Regulations (updated 6 March 2026), Default Rules (updated 23 March 2026), Settlement Finality Regulations (updated 21 July 2025), and Sponsored Clearing Regulations (updated 6 March 2026). Procedures were updated across multiple sections including Section 1 - Clearing Member and Dealer Status (updated 16 April 2026), SwapClear Service, ForexClear Service, and EquityClear Service (all updated 13 February 2026).
What changed
LCH Limited maintains a comprehensive rulebook governing its clearing services across multiple asset classes including interest rate derivatives, foreign exchange, equities, and repos. The rulebook structure includes General Regulations, Default Rules, Settlement Finality Regulations, and service-specific procedures. Recent updates span sections covering clearing member status, SwapClear, ForexClear, EquityClear, RepoClear, financial transactions, collateral management, and sponsored clearing arrangements.
Clearing members and participants using LCH services should review the latest versions of relevant sections to ensure ongoing compliance. Default Rules govern member default procedures and are critical for risk management. The Sponsored Clearing and Guaranteed Sponsored Clearing Regulations and Procedures, both updated 6 March 2026, affect firms using these cross-border clearing arrangements.
What to do next
- Review current rulebook provisions
- Monitor for updates to applicable clearing rules
- Ensure compliance with Default Rules and General Regulations
Archived snapshot
Apr 16, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Rulebooks
LCH Limited
Rulebooks menu The LCH Ltd rulebook consists of a number of parts: the General Regulations, the Default Rules, the Settlement Finality Regulations and the Procedures.
For the avoidance of doubt the Product Specific Contract Terms and Eligibility Criteria Manual does not form part of the rulebook.
Rulebook
- General Regulations (last updated 6 March 2026)
- Default Rules (last updated 23 March 2026)
- Settlement Finality Regulations (last updated 21 July 2025)
- Sponsored Clearing Regulations (last updated 6 March 2026)
- Guaranteed Sponsored Clearing Regulations (last updated 6 March 2026)
Procedures
- Section 1 - Clearing Member and Dealer Status (last updated 16 April 2026)
- Section 2A - NOT USED (last updated 7 April 2016)
- Section 2B - RepoClear Service (last updated 13 February 2026)
- Section 2C - SwapClear Service (last updated 13 February 2026)
- Section 2D - EquityClear Service (last updated 13 February 2026)
- Section 2E - NOT USED (last updated 5 April 2018)
- Section 2F - NOT USED
- Section 2G - NOT USED
- Section 2H - NOT USED
- Section 2I - ForexClear Service (last updated 13 February 2026)
- Section 2J - Listed Interest Rates Service (last updated 30 June 2025)
- Section 2K - NOT USED
- Section 3 - Financial Transactions (last updated 6 March 2026)
- Section 4 - Collateral (last updated 9 September 2025)
- Section 5 - Disciplinary Proceedings (last updated 12 November 2020)
- Section 6 - Business Continuity (last updated 30 June 2025)
- Section 7 - Appeal Procedures (last updated 12 November 2020)
- Section 8 - Complaints (last updated 7 February 2022)
- Sponsored Clearing Procedures (last updated 6 March 2026)
- Guaranteed Sponsored Clearing Procedures (last updated 6 March 2026)
FCM Rulebook
The LCH Limited FCM rulebook consists of a number of parts: the FCM Regulations, the FCM Procedures and the Default Rules.
For the avoidance of doubt the Product Specific Contract Terms and Eligibility Criteria Manual does not form part of the FCM Rulebook.
- FCM Regulations (last updated 6 March 2026)
- FCM Procedures (last updated 6 March 2026)
- Default Rules (last updated 23 March 2026)
Product Specific Contract Terms and Eligibility Criteria Manuals
- Product Specific Contract Terms and Eligibility Criteria Manual (last updated 15 December 2025)
- FCM Product Specific Contract Terms and Eligibility Criteria Manual (last updated 15 December 2025)
Digital Services Manual
- Digital Services Manual (last updated 25 January 2023)
Named provisions
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